Bitcoin Forum

BTC price goes up and up ever since we had last correction at 42K. now we are at 57.4 K and climbing which is very very good. some people even expect no correction until 80-100K. if we move like that we may see price over 100K as soon as 2-3 months. what do you think?

The answer to almost anything concerning price: no one knows.

If you can't trade, just dollar-cost average[1] or "DCA". With DCA, your holdings increase in value when price rise, and you get to buy coins at cheaper when prices drop. And as long as you're going to hold and continue to DCA for the long-term, chances are, you're most likely going to win.

---

[1] https://dcabtc.com/

No one knows...

Right now I have the feeling we only get small correction at around 10-20% and the way up will go till end of the year.

Yes, we see that bitcoin's degradation will skyrocket, so when the correction has been met, getting to $ 80,000 is already the next month's target. just look at this month bitcoin has shown a very crazy increase. we'll be waiting for it at $ 100,000. be ready to tighten your grip. the correction is still not visible.

We can only guess.


But we can say it is unlikely a major weeks long ~30%+ correction will happen very soon because we literally just got out of one literally 12 days ago! Not even two weeks ago! We should probably not expect another correction to start before the end of March.

Good chance Bitcoin moves up to the $70k - $80k range before the next major correction. It could go even higher before the next correction.

Firstly, why does there have to be a correction?

and secondly, by correction I would guess a lot of people are expecting a 20%+ but
it might be 10% drop.

Its a very different market compared to 2020, the majority of Bitcoin being bought
now might not be sold until the long term, whenever that will be, 10, 20 or 30 years
and beyond

Everything possible in this current bull market, but possibility of correction is higher than the number of those people. But it might happen that the rate of correction will be smaller than previous one. Also, it's not sure that correction will be happened within a days because it'll depend on the support level of Bitcoin. On the other hand, Microstrategy will buy more bitcoins in the upcoming days and there is high chance of correction as well because they'll make announcement after purchasing that and market will be in correction before that announcement which was previously happened.

Don't be deceive for bitcoin market can't be determine(forecast) by anyone yet becasue the market still developing. What i personally believe in bitcoin is whenever the price move above some reasonable percentage i quickly take out profit then watch the market after which i go again for purchase. More also, i learn to re-invest my capital during my stay with a particular project, mostly the top altcoins on marketcap. Currently, i exited the market before the $57k+, so, during the forthcoming correction i will swing into action again.

I am aware of the correction but I don't dwell on that I prefer to look at the market and how high it can go and at the same time make a profit while going up, have you already made a profit or are you still thinking of investing and afraid of the correction, this is one of the risks we have to take in consideration, but if we are comfortable on funds that we are going to invest, you will be ok to proceed.

$80k-$100k? Yes that within the realm of possibility now.

For correction, no one really knows, as long as there are more buyers then we won't see any corrections. But we all know that this kind of parabolic rise is not sustainable as we might go on the overbought region. So we will have to wait, a dip of 5% would be normal in this kind of super fast rally.

Who are those people who are expecting no correction until Bitcoin reaches $80,000 to $100,000? If they indeed exist, then they are absolutely wrong. Correction is a basic occurrence in a market even in the midst of a bull run. If you take a look at the graph it is not a straight line. There are red candles every now and then, some longer than the other. These are the corrections. Bitcoin reaches almost $58,000 but it also fell down below $55,000. If you are imagining the correction to be severe with Bitcoin losing everyday, it might not happen soon.

NO ONE KNOWS

For the last few months, people are always saying the correction will happen, and the price will not go up to 40k again, and they're proven wrong. CAUSE NO ONE KNOWS!, but Elon Musk can easily make a correction possible just by withdrawing his btc, and tweet about it.

It depends on what you mean when you say "correction".

Usually during bitcoin bull markets we have lots of corrections with many different sizes and durations. Most of the times they are small and quick for example price coming down from $57554 to $54000 (-6.1%) was a correction that we had yesterday and you seem to have missed it.
Then there are rarer corrections that are bigger in size and can go up to 30%. They also usually take longer to conclude too. Like going from $42000 to $28000 (-33%) last month.

It is hard to predict which type and at what time a correction is going to occur. Speculating about them is a combination of technical analysis, experience and generally by looking at the momentum of the market and the level and successful of the FUD in the media.

In a bull run, it is very hard to predict when it will stop and when the correction will happen.

In general, it is really hard to predict when this will happen. What we can do is to predict, read the charts and speculate which prices can be a huge resistance of Bitcoin.
Like @mk4 said, DCA would be the best way for us holders to gain some profit at least. I have been doing this for more than a year now and I'm very happy with the results of it :). If you have a job, put a portion of it into buying Bitcoin and hold it.

It's difficult to provide an accurate answer for that.
Even with technical analysis, you cannot assure it's going to hit the mark.

What can you do about this?
Always just be ready. If you want to enter the market at a cheaper price then you should check the daily fluctuation.
Monitoring it be boring but that's the only way you could maximize your profits.

At this time it is difficult to predict, because when observing the volume in the Bitcoin market you see that it mostly represents more purchases and sales, this means that most are looking for more bitcoin, perhaps because of the emotion of thinking that they are buying when millionaires buy, or when celebrities are buying, since they know that when the big ones buy they decide to do it because for them it is cheap and that they do not buy to lose.

The correction may come but I don't think it will be a bleeding correction, it could be too small, to gain strength and continue increasing, but of course, anything can happen.

Here is the issue with corrections during strong bull markets in crypto. Usually when it rallies, it rarely corrects. And when you finally get a correction where you get a decent entry its either too early and you are underwater or its not a correction but instead a trend reversal and start of the bear market.

Look what happened today, everyone wanted to long ETH at $1975 so they did and shortly after it had a huge crash down to $1800 pretty much. We all assumed $50K would provide some correction to at least $42K which never happened. The bull market of 2017 was similar. We topped $20K, got a good correction all the way to $10K and then never went back up to break ATH.

Bitcoin made a new ATH yesterday at $ 57kk.  But then there was a very quick correction from the market to drop the stop at 53k4 (locked up $ 4k / hour) but continued to change rapidly again at $ 56k.
 I think this move is looking at the bulls' initiative by reaching a favorable compatibility point for ATH that could make earlier.  This buying stimulus may expand further next weeks at 65k$.

I'm ok with the correction I always anticipated that, it's a window of opportunity for most traders and should look with positivism, correction or no correction the market is doing great and will eventually reach $100k hopefully it will happen in the last quarter of the year, by then I have funds so I can buy more in the market.

If you ask about when the correction comes, I am afraid that no one will know for sure. We can only guess that it will happen in the next days, weeks, or months after we draw a line based on the market's current situations. But that can't be a sign to see when the correction comes because the correction will difficult to predict. But we can guess that every time the price is down, that will be the correction for the price before it can have a chance to increase back to the higher price.

We don't know if the price can increase to $80k-$100k and then the correction will come, but if that is the prediction, I will be happy to wait for that because I can try to make as much profit as I can and then prepare to buy bitcoin at a low price.

No one really knows especially the hype is so high and the presence of big institution are still there plus we add the current alt season happening this year so I think the correction will hardly enter by this year. But we can still enjoy the moment and can possibly get a good position if we buy today since there are instance that the price of bitcoin pull back so its best to have a good insight and buy it before it pump again since every movement is a good opportunity to gain.

Easy to say but would really be the hardest thing to be done  on where you do wait up for the best opportunity for you to neither enter or exit with the market.
We might be seeing a very bullish market at the moment but we know the odds or chances of some flipping does really happen and we have learnt our mistakes
in the past that you shouldnt let yourself fall into FOMO.Its clear that adoption is really on the different level now but doesnt mean that the market
will continue to rise up forever.Best thing to do is to utilize up these movements for you to make money instead.

The daily scale is gradually growing in crypto market, so we can expect before end of the year it will reach $100k and lot of possible news was automatically comes in the market so we see $60k to $80k on next growth of Bitcoin. But we must actively monitor the every day market because pump and dump is possible on anytime in decentralized platform so we must ready face the all situation of Bitcoin.

It is hard to predict when we will see a correction, i was waiting for a minor correction when the price crossed its all time high valuation but then the Paypal investment took the valuation beyond the levels which i did not expect in a short period of time and now there are more investments in billions and it is hard to predict when we might see a correction.

I did see this poll and I know that polls are not really things that really matter and they are not always right, they are in fact more wrong than right most of the time, we have seen that in politics as well, however in a crypto market like situation where what people think matters the most, I think polls are very important.

In that poll there were just 9 thousand people give or take (maybe more now it was a tweet someone posted I couldn't find it now) voted and those voters said that the biggest possibility of a bear is at least autumn, because for the next 6 months or so they are still expecting this run to continue via the profits alone, and new big companies coming in, if these next 6 months is not "as good" as the past 6 months, then of course a drop could start by around September or so, that was what they were thinking. Very very very few people said it would be this month or next, and only a few said spring, so many think it is either summer or after summer ends.

Corrections this time couldn't be foretold, and the situation remains unpredictable because its a hard guessing. We're at the midst of huge value, and if you can imagine $20k has been doubled by now yet we're heading towards $60k. That's really hard to analyze based on current saturations at this moment because, even there's a possibility of downtrend, the value was still sustainable.

The  price was correcting from Jan start to 27th Feb and then we've broken up since then.  Right now there is no real clue to any weakness in the price especially with bullish news such as Canada ETF for Bitcoin starting.    Of course actual usage of BTC counts more but for now there is plenty of speculation and buying to fuel the prices and bullish perception.

There's no one who can predict the exact time period when the correction will occur. One can only make a prediction but it doesn't mean, it will come true. So this kind of question is very subjective and you will only receive so much speculations here. Even you apply all the TAs that you know of, still it is not a guarantee that you can get an accurate market price. There are so many factors involve in crypto, so you can't just pinpoint one major factor that will influence the price in the market.

It actually slowed down this 55-57k.
I think that is a sign that a correction will come.
As for my max prediction of the bull, above 60k might be the most difficult to break and upwards.
$45k as my lowest when the correction happens.
But that's just my own prediction. It's still your choice at the end of the day.

The volatility of the price of bitcoin is very high such that price had been experiencing minor corrections in recent times, predicting the exact period when the market will experience a major correction is beyond the imagination of any speculator, even now when institutional adoption of bitcoin is growing thus making it even more difficult to predict the price who knows whether there will another new adoption just like that of Tesla? all these positive fundamentals news will not triggers any major price of Bitcoin rather the price will trend bullishly upward.

No one for sure cannot predict the price or rally or anything else. Everything is speculation from price to demand. We all want to see as much high price as possible and this is said without anything that can be as greedy as possible, honestly we all want that. To be able to see that price is something that we want or hoped to be good for us. But then comes the greedy part. No matter how price comes to be high as possible we always want more and more.

I think this day the correction comes because the price is down at the $55k level. But we do not know when the correction will stop, and the price can bounce up to the high price. It is normal to see the correction after the price reaches a high peak, but we are getting a good chance to buy back bitcoin after selling some at a high price. We never know what will happen after this, and if you think that this time is the best time to buy bitcoin again, you can place your order buy before the price start to increase.

This month wouldn't initiate a big correction, bitcoin still stabilized a good price ATH which entire February would remain profitable for holders. Doing short trading is good but be careful when selling during downfalls, you won't notice price recovers faster. In March try to observe the market charts for bitcoin in several exchanges, corrections is possible but it won't fall until $40k but we'll see below $50k.

How i wish we all knew when this happens because for sure we can anticipate being go with the dumping.But none of us knows when this come and how much is this ..But one thing is fore sure , we will not be advised when this comes  :( So better watch the market and set your stop loss or else you'll be end up losing a chunk of your investment.

Bitcoin is any time to up and down. So it not easy to guss thi price. People check the price day by day in the market place. Bitcoin now day by day increasing. So people befor invest check the price market then people invest. Bitcoin is any time to hit the price. So wait and hold the Bitcoin long time. Then you get more profit and get more information.

We are almost to the point of correction already. The price is overly high already I'm sure it's overbought but because of the USD devaluation, there are investors still coming to buy BTC. I think once covid is over that's when we see the real drop. As of now, I can see some tokens are just starting to go up. Crypto.com (CRO) looks like a late bloomer but its gradually regain its position.

No one knows when the market correction will happen since the cryptocurrency market is an enormous venture but the market is said to be expected whenever the market successfully makes a big pump in price and it not possible for the Bitcoin market to make the $80K-100K without any correction.

Hey, if you have been looking forward to a stronger correction then here you are at that exact moment. From more than $58,000, the price of Bitcoin at this moment has already fallen down to around $53,000. That's at least $5,000 in correction in just several hours.

This is it. To those who are waiting for a deeper correction so that they will be able to enter at a much cheaper price, this is your moment.

There was a correction just few hours ago. Price dropped to $47622 on Binance. Remember to catch such corrections and to be able to buy them you need to have active orders set at right price on the exchange before the dip happens. Pretty impossible to do it perfectly.

That is the problem right now as well, the price dropped like 4-5% and everyone started to be insanely scared of a huge bear run coming, all because of a 4% drop? Like seriously how long have you been in crypto, can you not realize that 4% drop in bitcoin is not a bear run but just a correction and in order for us to call it a bear run it needs to be over 15-20% drop? I am not saying this to you, I am just saying it to people who fail to realize that bitcoin could go up or down 5% and that means nothing, it doesn't mean we are suddenly doing awesome, it doesn't mean we are doing horrible neither, it just doesn't mean anything at all.

We are going to end up with some people who overreact, there is no way to stop them mate, I know you do see it and think it is funny because I do think it is funny as well and I know how you feel but there is nothing we can do.

It seems I was wrong. there was new correction today price on Binance was got to $44892. Hopefully we ill not get new correction tomorrow and I will have to correct my self again :P

Recently there is drop in price. We might want it as correction but with the way people are pointing at Elon Musk as the cause, I don't think it the correction we are waiting for. And this is because every correction should be natural without influence. Don't be surprise if you see, price drop to 40k or even below. Even at as that, it's a good thing.

Keep an eyes in March, because according to history, March was a month for bitcoin correction, and before March the altcoin price dumped up to 30%, because bitcoin price corrected 10% - 15% of course, this made traders panic and sell crypto assets, even though it's still bullrun. So correction is a natural thing, we wait until March, hopefully March is not a month of correction but a month of recovery.

There's nothing wrong to believe on what you are saying but also just keep your eyes open to the possibilities of the comeback since if we compare before and now things are truly different since we have big news happened recently. But if those huge correction came on March well we should be prepared to take the profits or do the stop loss to secure and minimize the possible damage.

In bitcoin’s case correction of price is good because after the correction bitcoin go high and break all previous record. Price was corrected yesterday i think this time bitcoin will cross 65k$ milestone so buy bitcoins as much as you can if you really want to get profit in near future.

We already the bitcoin price correction, so I guess we will see it happen in the future and not this month. But we do not know if the correction will come again after the price. I think we still need to prepare for anything that can happen later, and if the correction happens, we can use it to buy as much as we can. Maybe we can focus on buying more bitcoin as before to have more bitcoin than before. But the drop yesterday made many people surprise as they do not imagine if the price will go down lower on that price.

42k is a good mention because thats close to the bottom pricing now, the last area of volatility then forming part of future action rings true.   Price has to correct when it moves too rapidly without enough volume but how serious is that correction is another matter, some assume it will just rise back and resume and others I heard say it can be 6 months to even out.

https://talkimg.com/images/2023/06/12/AjcyJ.png

Price right now is above some uptrend but between two measures of momentum short term, overall it remains bullish above the 50 day average.    The recent highs today are marked by the 2 day average and below us is 12hr average representing in some way the rise in price since the pullback and low.   Price action must determine between these which is correct.

i don't see anything special about March in previous years and the market was the same as other months of the year. it is not surprising to me because price doesn't move based on months but based on a lot of other complicated factors!

the next correction might occur for such a long time after this but if this current correction still continues , i think that will still be the same . reminds me of the moment where the value of btc is stuck at a verry low price because i think that is an example of prolonged correction but after that , it took over a year or almost a year till we undergone in another correction and that did start happen last day .

yes it will . correction is unstopable and can always come to volatile cryptos and this wasnt the first time we experience it so we already know what to do but if theres still unprepared , they can be newbie in crypto

I hope so. The correction still continues, but we do not know when it will come again. The only thing that we can do is prepare the money to buy back bitcoin, and if necessary, we can sell bitcoin when the price can pass the price we bought before. That can help us to have more bitcoin. Besides that, I guess the real highest price or new ATH still does not appear because the price needs to reach the next high price that can be the new ATH after halving.

I hope that the next correction will not make traders panic and sell their bitcoin, but they can wait for a while or buy back more bitcoin. Maybe new people need to read more lessons to know what they need to do when the price is down.

Corrections often happen when price starts to go down, and what I had observe lately was a simple stabilized price of $50k range. It doesn't go down and go up so fast, it's optimized price which I seen a strong momentum build up. We're still far from the reality of $100k, struggles can be so harsh for now due to more challenging market.

Still I am not quite convinced we've seen the bottom. 40k was quite a long time to overcome, and we all know the 50k pump was never going to be sustainable short term. I'm pretty sure we can see another test of 40k maybe even 35 but that's healthy direction to set up the stage for strong bottoms and building up from there.

Keep your seatbelts tight!

just 2 days after posting this the Correction happens , and look at the market it looks like recovery is getting far from happening .
I regret not selling when the price hits 58,000$ because i believe that 60k barricade will be break first before the correction but I'm wrong lol.
now it will take me some time to Make another Buying and selling again , things that i have done if i am aware to Sell at 58k and buy at 45k as the lowest record for the last 7 days.

Bitcoin value is rapidly rising and it is good news , but lately we experienced again dump of the market but it is normal or ordinary if you have knowledge already about cryptocurrency. I think the 80k dollars upto 100k dollars this year but 2 to 3 months we do not know if going to reach but gives a good times like until the end of the year for sure we will see it.

Literally we have dropped to that price again, and by the looks of the chart if we keep going like this until the end of the week, we are going to have even a worse week next week with a huge drop, however if we can recover a bit more and throw ourselves over 50k levels we could maybe do a bit better by next week. It all depends on how we react in the next 4 days or so, if we go up, we will keep going up, and if we go down, we will keep going down, it is a scary situation.

Let's remember TA is not what always happens, Elon Musk could come up and say that bitcoin is awesome so Tesla is buying 1+ billion more, and price could skyrocket, or he could just tweet that they are out of crypto and sold all theirs, and price would crash even harder, so my estimates are based on TA and no idea what could happen if there is something unexpected.

Need to stay furious, this can happened as word coming from this influential person creates huge impact to the entire market.
Be aware that there are still many traders who are buying the news.

With how we seen the market,  deeper analysis helps to avoid making wrong decisions. now, the price is moving down chances that pressure from weak holders are adding up to this trend.

If you are into long-term investment, you are not affected but instead you'll see this as another chance to add
more and wait for another rise.

while it's possible to happen, Elon will really come out as an asshole to the community if he influences the market to crash. It could even affect his company itself. the TA is always a good way to see the future price and how low the correction would go before it will bounce. it may not take 2-3 months actually who knows or the market could be turning bearish til another influencer like Elon ot Saylor comes to save the market.

I would not be so sure to say that the correction is over, however, it would be very normal for the price to rise again, since a correction is always needed to test the offer, this may be being tested by those who have enough money to move the market, coupled with the famous billionaires who have bought Bitcoin I think their first target will be for $ 100k, these people do not enter to enter, they do not invest to earn a few pennies, these people enter the market to earn millions.

Yup. I've heard some Wall Street bonds are resilient, seemingly having some corrections to this change.  We feel there was a lot of strong fluctuations this week and that pressure depletes $ 58k to 48k on Monday, Tuesday continues deep at $ 45k and today is $ 44k.  This is the time when the maximum threshold of oscillation occurred.  The same big impact from media bullshit was to degrade traction.  I expect bitcoin's correction this week will be $ 45 -55k $.

The institutional investors already earned billion worth of profit till now and it is time that they will book their profit and it is not a big surprise that we are seeing correction every alternative day. It is hard to predict what these institutions will be planning to book the profit and i wont be surprised if some of them book their initial capital and then reinvest again and keep on doing that in cycles for a while.

I believe it was answered already and probably we know already why it happens like this. Because if there is someone who could tell the future of Bitcoin, I don't think that able to enjoy its volatility. And that because it remains unpredictable, we can just answer "MAYBE".

Maybe it was clear enough to say that nobody holds the future of Bitcoin and that even the creator never has control over it. Every drop and pump is a big surprise for everyone and we need to accept that rather than formulating any speculations.

The price have to go down eventually when we are in a situation where there are no more buyers but right now everything looks great. As long as there are good enough buyers, that means price could basically reach to a good level, all we need is those buyers. I am not saying it is impossible for bitcoin to actually crash, it could happen, but how could it do that when we have the highest increase for now?

We are doing fine and as long as we keep doing fine there doesn't seem to be a scare. Even when the price dropped a lot, we have recovered from the it because there are buyers and as long as you have the buyers for it, the price can't go too low and people know this so they end up buying as well. It is just a situation and there is really nothing to worry about this situation. I personally feel fine about our future.

Though the time the post was made should be consider in this regard. During that time the post was made and now should explained to you OP that nobody can defined the market movement, what we all are doing this time is just for guessing and not that we know exactly what will happen to the Bitcoin market. I will continue to say this: not even the experts knows the next happenings around Bitcoin, and for your information the correction is what we are inn currently.

There is no way Elon does something just because it would be great for his company, we all know that dude doesn't care about his companies in the financial sense because he wants to achieve something and he does that no matter what the costs are, dude even talked with some dictators to get some extra cash to do what he could actually achieve, he doesn't care where the money comes from and what the situation is like as long as he does what he can.

He was in trouble with SEC many many times so far as well. All in all I have to say that we are in a situation where Elon could totally say bitcoin is horrible and nobody should ever buy it and crash the market or he could just convince board to buy 1.5 billion dollar more, everything is possible with him.

It is true no one really knows what really the future of bitcoin but after the bullish of price correction "maybe" we are into another stage of climbing the bitcoin price into another level of it's price we always depends on the supply and demand but mostly those prediction it will come true just always trust and don't have any second doubt about it. Well we new that bitcoin is really volatile and its centralize that's where people make a good profit whether it's long term investments or short terms As long as you set your goal for it then you always believed in it and of course into your self.

Your first paragraph is contradicting in its own sense. "he doesn't care where the money comes from", so he can manipulate the crypto, whenever he wants it for him to gain a great income without making himself the bad one. One simple tweet, about his trade and the market will immediately move. Though he recently cleaned himself with the issue of him making his companies buy crypto, as he is don't want anything personally to do with it, so he is investing his own asset.

It's possible, perhaps some of them have book their profits when we reach $58k at an all time high, so that is good for them. But as far as correction, again this is not new in the market, maybe why is want enlarge is because of the media and we are in March, wherein history the price really goes down this time in the past. So let's see how this month will do, the price seems to trade between $47k-$49k, the pattern now is sideways. So, it's going to be tough for us, if the price goes dip again at the line of $45k. We will see how it will turn out at the end of the week, and hopefully we go above our support line.

https://talkimg.com/images/2023/06/12/Ajf7o.png

2 day average about to cross above the weekly average which was a bullish switch last time it happened.   Watch for this rather then weakness first, worth paying attention to whether we qualify upwards as if it fails then it may lead to some measure of weakness from speculators leaving positions.   Its not especially weak in this moment overall, we've outlasted the bulk of selling seen last week initially.   Really strong price action might occur when we trade above 49 to 50k area with a 4hr closing bar;  seems like there is a process of consolidation that requires some patience in conclusion as to our direction.